3 Part 2 of 4 12.5 points 04:07:51 eBook Print [The following information applies to the questions displayed below.] Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2021, follows, along with information about selected accounts. Account Names Cash Supplies Prepaid Rent Accounts Payable Salaries and Wage yable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Utilities Expense Rent Expense Supplies Expense Income Tax Expense Totals Debit $4,400 4,900 7,800 29,700 12,800 26,000 5,400 0 $ 91,000 Credit $ 1,800 0 2,600 900 85,700 $ 91,000 Further Information As reported on December 31 bank statement. Based on count, only $1,600 of supplies still exist. This amount was paid November 1 for rent through the end of January. This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $510 of utility services through December 31 for which it has not yet been billed. Stylists have yet been paid $150 for their work on December 31. The company has paid last year's income taxes but not this year's taxes. This amount was contributed for common. stock in prior years. This is the balance reported at the end of last year. Customers pay cash when they receive services. This is the cost of stylist wages through December 30. This is the cost of utilities through December 15. This year's rent was $2,600 per month. This is the cost of supplies used through November 30. The company has an average tax rate of 25%.

[The following information applies to the questions displayed below] Var's Hair Emporium operates a hair salon, Its unadjusted trial balance as of December 31. 2021, follows, along with information about selected accounts. [The following information applies to the questions displayed below] Var's Hair Emporium operates a hair salon, Its unadjusted trial balance as of December 31. 2021, follows, along with information about selected accounts